As a rule, mortgage lenders will look to lend between four and four-and-a-half times your total income. This is known as the loan-to-income ratio. However, every lender will have their own criteria and complete an affordability assessment, which will consider outgoings such as monthly personal loan commitments, childcare and car finance. All these factors will determine how much you can borrow. At Forever Home Mortgages, your first initial free consultation will include asking questions about your income and your outgoings and we can then compare your affordability across multiple lenders to give you an indication of the maximum amount of mortgage a lender may be prepared to loan.

When buying a property you may be wondering what types of mortgage are there available. From fixed rate mortgages, where your interest rate and payments will remain the same during the fixed rate period, through to tracker rates, which moves in line with the Bank of England base rate, it can be confusing to decide which type of mortgage is right for you. So, at Forever Home Mortgages, we will give you all the information to help you make an informed decision and provide personalised advice based on your circumstances.

Would you want your spouse, partner or children to be left with a debt, or struggle to make ends meet, if you were no longer around? The financial impact of death can be catastrophic, from struggling to pay the mortgage or rent, through to the cost of raising a child. So, if you do not have significant savings or assets, life insurance might be a serious consideration to make sure loved ones aren’t left with money worries should the worst happen. There are several different types of life insurance policies, so to ensure you are getting the right cover for you, get in touch today.

Income protection is a type of insurance that provides a regular income if you are unable to work due to sickness or disability, with payments usually starting after any employer sick pay provision ends. If you have a full income protection policy, this will continue to pay until you can return to work, retire or the end of the policy, whichever is sooner. Income protection will typically pay out between 50-70% of your gross income (tax-free) if you are unable to work and can be claimed on multiple times if required. There are also limited income protection plans, which will only pay out for a limited period of time, such as one or two years. How much cover you need will depend on your personal circumstances. The cost of income protection will depend on a variety of factors including your age, occupation, health and level of cover you require. Forever Home Protection can advise you on the right policy for you, depending on your circumstances and budget.